Saudi Arabia Crown Prince Mohammed bin Salman, FIFA President Gianni Infantino, and Russian President Vladimir Putin watch the match between Russia and Saudi Arabia which opens the 2018 soccer World Cup at the Luzhniki stadium in Moscow, Russia, Thursday, June 14, 2018. (Alexei Druzhinin, Sputnik, Kremlin Pool
CNBC: Russia, Saudi Arabia are getting increasingly chummy, and that has big implications for OPEC and oil prices
* A complex web of relationships and geopolitical considerations may come into play at Friday's OPEC meeting.
* Saudi Arabia and Russia are looking to increase production, but not all OPEC members agree.
* Both countries agreed to institutionalize the new relationship they forged as part of a an agreement between OPEC and other producers to cut back on production to stabilize the market.
Saudi Arabia may have gotten blown out by Russia during its first match at the World Cup, but there seems to be no hard feelings between Crown Prince Mohammed bin Salman and Vladimir Putin.
The two leaders met this past week as the Russian national soccer team clobbered Saudi Arabia 5-0 in Moscow. It appears both have agreed to cement the cornerstone of an already deepening energy and economic relationship, even as they look to alter a successful oil production deal that brought them together.
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WNU Editor: I cannot help but think that both Putin and Salman are thinking of Iran right now, and are implementing policies via thru oil pricing to use as leverage on Iran.
More News On Russia And Saudi Arabia Agreeing To Raise Oil Output By 1.5 Million Barrels A Day
Russia, Saudi seek raised OPEC output of 1.5 million bpd -- AFP
Saudi Arabia, Russia oil pact in focus at OPEC summit in Vienna -- Arab News
Moscow, Riyadh Agree to Jointly Support Extension of OPEC/Non-OPEC Deal -- Sputnik
Russia and Saudi Arabia will save the day if OPEC deal falls apart -- RT
Saudi Arabia plans leaders' summit this year for OPEC, allies: sources -- Reuters
1 comment:
Our cad is getting hammered and this isn’t going to help. Traveling to Thailand.... my fav place to eat..... is getting quite pricy these days :-(
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